This is how a retired 23 year old spends his money

@limmytalksmoney

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12 videos

Why it worked

The video taps into a common aspiration of early retirement and financial independence, using a visually engaging chart to present the information in an easily digestible format. The creator's surprised and relatable reactions to the spending habits add an element of entertainment and encourage viewer engagement.

Summary

The video breaks down the expenses of a "retired" 23-year-old, highlighting their income sources and spending habits. The creator expresses surprise at some of the expenditures, particularly the medical bill and flights.

Structure

1Introduction to a retired 23-year-old's finances
2Explanation of income sources (capital gains, royalties, dividends)
3Breakdown of major expenses (cruises, flights, housing, medical)

Original caption

*hangs out exclusively with 70 year olds*#greenscreen

More from @limmytalksmoney

Product placement

The video uses a Sankey diagram from MyMoneyCharts.com to visualize the retired 23-year-old's income and expenses.

On-screen text

23 year old - retired POV: you're retired at 23 This is how a retired 23 year old spends his money Capital Gains 149,000 Royalties 70,000 Dividends 40,000 Budget 259,000 Investments 94,500 Cruises 39,000 Medical 36,000 Flights 30,000 Housing 12,840 Supplements 6,000 Taxes 6,000 Food 5,000 Miscellaneous 5,000 Tours 3,000 Hotels 3,000 Subscriptions 3,000 Scuba 3,000 Phone Plan (roaming) 2,000 Transport (uber) 3,000 Made on mymoneycharts.com

Transcript

This is how a retired 23 year old spends his money. He's got three forms of income. The first one is capital gains. So he cashes out on some stocks every year. He's also got some royalties from a business, I'm guessing that he used to own. And he gets some dividends for a total of 260 grand a year from just sitting there. He reinvests a good bit. Cruises, 39 grand. I don't understand how this medical bill could possibly be this big. But I don't know. I'm not judging. Flights, 30 grand. This guy only flies business. Housing, 12 grand. I'm guessing this is just property tax. Then we got supplements, 8 grand. What the hell? What are you buying? Taxes, 6 grand. Hell yeah, brother. We got food, 5,000. Miscellaneous, 5,000. Tours, 3,000. Hotels, 3,000. Subscriptions, 3,000. Scuba, 3,000. Then we got an expensive ass phone plan, cause you know, your boy's, uh, Mister Worldwide. It's a little cut off here, but he spends about 3 grand on Ubers as well. Not bad for a retired guy, that's 23. What am I doing with my life, man?